Posts Tagged ‘action plan’

A recent article from Bain & Company talks about the common problem that occurs when organizations are bogged down with initiative overload—they “are like swimmers buffeted by cross currents coming from every direction”, and the result is often fragmentation and unremarkable results for the company and the client or prospect.

As an agency owner, producer or service team member, you’ll likely relate to the problems that arise from “initiative overload”…maybe you have to tackle a surprise request from a client, address an unforeseen risk or scramble to deliver on promises made during the sales process.

The article provides a few great tips for overcoming initiative overload such as (1) managing your time to determine what your strategic priorities are, (2) clearly defining your responsibility for each initiative, and (3) determining your involvement by establishing distinct decision processes and maintaining open communication. But in order to avoid initiative overload all together, we would recommend creating action plans.

So, when and how do you create an action plan? Action plans are the culmination of agreements gained during the sales process, and depending on the size of the agency, the prospect and producer should agree to take on 1 to 2 initiatives per quarter or year. They represent the work that needs to be accomplished by both parties in order to strengthen and protect the client’s business.

In many ways, in order to retain accounts and grow your book of business, implementation of agreed upon initiatives is not only necessary; it also provides a big opportunity to differentiate. But, successful implementation only happens when there is a strong action plan in place. In today’s challenging marketplace, an action plan ensures that timelines won’t become hazy, promises won’t be broken, and both parties will get the most out of the relationship.